Chana down 0.9% on higher supply

Commodity for delivery in November traded lower by 0.76%

Chana prices fell by 0.89% to Rs 2,790 per quintal in futures trade today as speculators offloaded their positions amid adequate stocks following higher supplies from producing regions in the spot markets.

At the National Commodity and Derivative Exchange, chana prices for delivery in October fell by Rs 25, or 0.89%, to Rs 2,790 per quintal with an open interest of 1,490 lots.

Similarly, the commodity for delivery in November traded lower by Rs 22, or 0.76%, to Rs 2,864 per quintal in 1,08,480 lots.

Analysts said offloading of positions by speculators, triggered by increased supplies from producing regions in the physical market against subdued demand, kept pressure on chana prices in futures trade.